There are a lot of eyeballs on the Bitcoin price right now, as the value continues to climb up on a daily basis. However, a lot of people are well aware this trend is not likely to continue forever, and there are some signs of resistance along the way. Moreover, no one is certain where this sudden demand is coming from, albeit there are plenty of reasons as to why this could be the case.
A Bitcoin price increase is always a joyous occasion for cryptocurrency enthusiasts. Many people have bought or earned their Bitcoin at a lower price point, and every price increase goes to show they were right in believing in Bitcoin. Contrary to what most people may believe, Bitcoin is here to stay, and it will survive all of the hardship it is enduring. Up, Down, or Sideways?
Looking over the Bitcoin trading data – provided by Bitcoinity – there is a strong trend for everyone to see. Trading volumes are way up there, with a peak on June 12th which saw 220,000 BTC in volume in the early hours. The majority of that volume originated from OKCoin , which is kind of interesting to note. Then again, OKCoin has been generating 57.88% of all Bitcoin trading volume over the past three days.
Major Western exchanges are well behind the curve as far as the trading volume is concerned. Bitfinex is the first one to appear on the charts, with just 184,000 BTC volume in three days. We all know China is driving the Bitcoin price at all times, although we usually depict the price in its USD value. ItBit has a legitimate chance to overtake both GDAX and LakeBTC in the coming days, though, as there is only 6.4k BTC volume separating these exchanges.
The big […]
